Sony Explores Web3 with Blockchain Initiatives
Sony is making significant strides into the Web3 space with the launch of Soneium. This is a new blockchain platform aimed at fostering Web3 innovation. This initiative includes the Soneium Minato testnet and an incubation program called Soneium Spark.
To many web3 folks this is a positive sign. As Sony is entering the fray and joining other brands like Nike, and Porshe within the industry. The introduction of Sony’s product could spark an increase in awareness of Web3 and blockchain globally.
Web3’s adoption rate on the other hand is moving at a snail’s pace. In a world of 7 continents and 195 countries, only 10 countries have recorded high activities in the web3 space and there is still much ground to cover for mass adoption.
Sony’s products generally have a high level of adoption. Sony’s PlayStation series is one of the most popular gaming consoles globally.
The launch of Soneium could attract such visibility to Sony’s already established audience and users.
Regardless, this move into Web3 underscores Sony’s commitment to exploring the potential of blockchain and decentralized internet technologies, however
Web3’s mainstream adoption is a long way off
On 10 Jan 2024, Consensys surveyed the global web3 perception in 15 countries, from Africa, Asia, Europe, and North and South America. The survey focused on 15,000 participants, from 18-65 and only 24% considered themselves familiar with how web3 works.
According to Sony, the launch of their Soneium blockchain acts as a solution to the obvious gap in the space. Sota Watanabe, Director of Sony Block Solutions Labs, stated while talking on the drive that propelled Sony to make the move:
“We believe that the watershed moment for the entire Web3 industry will be whether we, as companies involved in Web3, can truly provide solutions that billions of people use as a matter of course in their daily lives and make Web3 mainstream in the next few years.”
Through Soneium, Sony plans to create applications that simplify the practicality of blockchain technology to skeptics and those unfamiliar with the workings of the technology, increasing awareness of the technology.
What is different about Sony’s Sonieum Blockchain
Sony’s Soneium blockchain distinguishes itself through several key features that set it apart from other existing layer 2 blockchains. It’s built as a Layer 2 solution on Ethereum, and it enhances scalability and efficiency while retaining the security and decentralization inherent to the Ethereum network.
Its design caters to a wide range of needs across various industries, making it a versatile and general-purpose blockchain. Soneium’s design also aims to bridge the gap between Web2 and Web3, facilitating easier access to blockchain technology for everyday internet services.
The platform is heavily focused on supporting developers and creators, offering a robust environment through initiatives such as the Soneium Minato testnet and the Soneium Spark incubation program, which provide mentorship, infrastructure access, and strategic partnerships.
With strategic partnerships with several prominent Web3 companies, including Astar Network, Circle, Alchemy, The Graph, and Chainlink, these brands aim to further enhance Soneium’s capabilities and adoption.
So is Soneium a public blockchain? Yes it is, it also has an open network that can be accessed by anyone. This infrastructure network gives Sony the ability to create web3 solutions from the ground up.
The blockchain is aimed at developing a user experience that fosters creativity. And also integrates with Sony’s existing services across entertainment, gaming and electronics. Imagine trying to access your PS5 and you are logged in through a digital wallet that stores your activity history securely.
With Soneium, Sony plans to make web3 a part of our daily lives.
There’s no doubt Sony has the potential to influence a wide consumer range with Soneium since they have built a massive customer base in mainstream markets. And now they have started exploring avenues to share with creators and them.
The best part is that Soneium provides a platform for creators to freely spill their creative juices with little or no restrictions. To build apps that connect with the everyday needs of someone who has never experienced web3.
At heart, Sony wants to “…make something people want and go mainstream beyond web3.” Sota Watanabe, the director of Sony SBL and founder of Astar Network explained.
And with its strategic partnerships, Soneium can co-develop new products and services that combine the strengths of partners.
For instance, the partnership with Circle (issuer of USD coin). Will help Soneium integrate stablecoin payments into its ecosystem, facilitating seamless, low-cost, and secure transactions.
The partnership with Alchemy can help accelerate the building of dApps and would provide Soneium with the tools necessary to accelerate its development, optimize performance, and ensure reliable operations. The partnership with the Graph means Soneium can efficiently index and retrieve blockchain data, which is crucial for building data-driven applications. While Chainlink’s cross-chain platform will aid Soneium in interoperability.
Is Soneium the platform for web3 innovations?
With its design, users can seamlessly access Soneium through their interactions with apps compatible with the network. Each of those apps will also have web3 games and NFT marketplaces integrated within which opens the end user to the broader worlds of web3.
Interoperability is key in web3 innovations and Sonieum development plans aim for that.
By leveraging blockchain technology, the activity history in these apps is managed in a decentralised manner. This is different from the way our cookies and personal data are stored by sites and apps when we interact with them.
The road to increased awareness and adoption of web3 products is quite daunting. But Sony sees this as an opportunity to leverage its vast network and resources in creating products that speak to their everyday need.
According to Sota Watanabe, Director of Sony Block Solutions Labs, Sony plans to create “…solutions that billions of people use as a matter of course in their daily lives.”
The Open Internet Could be Here
And in tomorrow’s future, Sony sees web3 as an integrated part of everyone’s life. Where our entertainment, finance and gaming are based on blockchain technology. Soneium is Sony’s tool to make this happen.
“The development of a comprehensive Web3 solution based on blockchain is very significant to the Sony Group. Which has developed a wide variety of businesses under its purpose of ‘Fill the world with emotion, through the power of creativity and technology’.” Jun Watanabe, Chairman of Sony Block Solutions Labs.